FERRARI LUCE ELECTRIC SUPERCAR SELLS FOR $40M AT AUCTION

Ferrari's first electric vehicle, the Luce, sold for $40 million (£29.5 million) at auction in California, setting a record for a new car sold publicly. The sale of "Chassis 0", the first production example, took place at RM Sotheby's. All proceeds will be donated to the Ferrari Foundation's educational programmes. The winning bid exceeded the car's standard list price by more than 35 times, believed to be the highest amount ever paid for a brand-new vehicle at public auction.

The Luce was developed in collaboration with British iPhone designer Sir Jony Ive and features five seats and battery power. Its launch in May prompted significant criticism and backlash on social media, with some commentators arguing the design departed from Ferrari's traditional aesthetic and risked damaging the brand's identity. Italian Deputy Prime Minister Matteo Salvini and former Ferrari chairman Luca Cordero di Montezemolo were among those voicing opposition. Ferrari's share price fell following the launch, though the company announced it had already sold out this year's allocation of vehicles. Ferrari's chief design officer Flavio Manzoni stated that critics form part of the innovation process.

The auctioned vehicle featured a custom white finish, bespoke wheels and customised brakes. One previous Ferrari at auction, a Daytona SP3 supercar, raised $26 million in 2025 for the company's educational initiatives. Reports indicate strong demand for the Luce from China has enabled Ferrari to meet its annual sales target, though the company has not publicly disclosed specific sales figures.